December 22, 2011
When first-time FHA borrowers submit their loan applications to the lender, it’s natural they might feel nervous about the outcome of the lender’s review of the application data.
Will the borrower’s occasional credit missteps or isolated credit problems negatively affect the ability to get FHA loan approval?
FHA rules for lenders include a long list of requirements for the credit check, which includes the following:
“Past credit performance is the most useful guide to
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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